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Wednesday, May 11, 2011

Your Salary as Compared to Others

There are many websites out there such as Salary.com and PayScale where you can compare your salary to others. Knowing this information is important as if you are underpaid, you can use the data from these sites to ask for your worth from your employer. However, those sites are compiled by collecting data from individuals such as yourself, therefore, you have to trust that the users are entering accurate data.

A better way to see what you are worth based on your profession, would be to look at the US Bureau of Labor Statistics Website. The web page shows the industry that you are in, breaks it down by occupation, and shows the median (middle value) and the mean (the usual average) hourly wages and yearly salaries. You can also see how popular your profession is. By clicking on the profession, the website breaks down the numbers even further by select locations.

The website is also useful if you want to get the breakdown of unemployment statistics, inflation, and even how people use their time. It's a little hard to navigate through, however, it is packed with data.

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